A company known for its power supplies, electrical cords, and industrial cables has announced plans to build a new manufacturing facility in Santa Teresa, New Mexico.
The Taoyuan City, Taiwan-based Admiral Cable wants to build a massive 240,000 square foot facility that will go up in two phases.
Altogether, the company is expected to invest up to $50 million on the structure, with plans for the facility to be operational in the early part of 2020.
The project is the result of talks between Admiral and the New Mexico Department of Economic Development which has agreed to put up around $3.9 million in support to get the facility built.
That money is coming through the department’s Local Economic Development Act funds.
In a statement, T.C. Huang, chief executive officer of I-Sheng Electric Wire & Cable, which owns Admiral Cable, said the company is excited to establish its “domestic manufacturing capacity in New Mexico.”
I-Sheng primarily manufactures computer peripheral products, including signal transmission cables, fiber optic cables, and power cord connectors.
Huang also noted that the Santa Teresa location for the plant, “affords us greater proximity to our customers with efficient market access, supply chain efficiencies, and high-quality labor.”
In return for the LEDA funding, the company has committed itself to hiring nearly 350 local and area workers.
I-Sheng, which was founded in 1973, realized nearly $240 million in revenue last year.
By Garry Boulard
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